WORD PRACTICE Lesson 4 BUSINESS PLANNING (600 essential words for the TOEIC)

Lesson 4

BUSINESS PLANNING

(600 essential words for the TOEIC)

WORD PRACTICE

LISTENING COMPREHENSION

Part 1 Photo

Look at the picture and listen to the sentences. Choose the sentence that best describes the picture 1.  A      B     C      D

Part 2 Questions-Responses

Listen to the question and the three responses. Choose the response that best answers the question.

2

A   B   C

3

A   B   C

Part 3 Conversation

Listen to the dialogue, then read each question and choose the best response.

4	How do the speakers feel about Alexa’s business plan? A.       She has gathered too much data. B.        She has taken on too much risk. C.       She has made many obvious mistakes. D.       She is serious-minded and cautious.	6	According to the man, what is the most important strategy for success? A.            Investing in a good sound system. B.             Having a good business plan. C.            Eliminating all risk. D.           Studying the market
5	How will the man help Alexa? A.        By doing market research. B.         By searching for an office. C.        By pointing out her mistakes. D.        By nominating her for an award.

Part 4 Talk

Listen to the talk. Then read each question and choose the best answer.

7	What is the topic of the talk?		9	When will the evaluation begin?
	A	Long-term growth plans.		A	At the end of this year.
	B	An offer for a leveraged buyout.		B	At the beginning of next year.
	C	How to minimize risk.		C	In two years.
	D	Where to borrow funds.		D	In a few years.
8	How will the company fund its growth?
	A	Bank loans.
	B	Profits.
	C	Sale of stocks.
	D	Owner investment.

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READING

Part 5 Incomplete Sentences

Choose the word that best completes the sentences

10	You cannot _________ learning how to use the new software as it will be needed in daily operations from now on.				13	After you turn in your business pan, you will receive a written _________ of your work within two weeks.
	A	avoid	C	avoiding		A	evaluator	C	evaluate
	B	avoided	D	avoidance		B	evaluative	D	evaluation
11	I don’t want to intrude, but would you like me to _________ how to use that machine?				14	If we think _________, we can come up with a plan that promises success.
	A	demonstrate	C	demonstrative		A	strategize	C	strategically
	B	demonstration	D	demonstrator		B	strategic	D	strategist
12	While you are _________ your business plan, it is good idea to keep a resource library of valuable materials.				15	It is now legal to _________ a generic brand drug for a prescription medicine if you have the patient’s consent.
	A	develop	C	developing		A	substitute	C	substituting
	B	development	D	developer		B	substituted	D	substitution

Part 6 Text Completion

Memo
To From Re	: Stephen Saunders, President : Willa Richardson, Marketing Department : Changes in market
In order to address the changes that are currently taking place in the market, I believe we need to modify our business plan. I _________16 data for the past several months. The information clearly shows that younger and younger people are becoming interested in purchasing products such as ours. We need to develop a _________ 17 to reach this younger age group. We need to redirect some of our resources toward this goal. I think that if we make this a priority over the next year, we will have a much _________ 18 position against our competitors. If we don’t, we risk losing the market share that we already have. I would like to share the results of my research with you. It demonstrates the need to focus our energy toward this younger age group. Please let me know if we can meet this week to discuss it.

16	A	gather	18	A	strong
	B	am gathering		B	more strong
	C	had gathered		C	stronger
	D	have been gathering		D	strongest
17	A	strategy
	B	strategize
	C	strategic
	D	strategically

Part 7 Reading Comprehension

Questions 19-23 refer to the following article

When developing a plan for a new business, the entrepreneur quite naturally wants to eliminate all risk. While it is impossible to avoid some risk, the goal us to minimize it as much as possible. How can we do this? Thorough research and careful planning are the keys. There are two parts to good research. First, you must demonstrate that there is a need for the product or service you plan to offer. Are there enough people out there who would be willing to pay for it? Second, you must look at your competition. What do you have to offer that your competitors do not? Is your product or service of better quality in some way? Is it cheaper or more easily available? Is there a niche in the market that your competitors are not addressing? If what you have to offer is identical to what your competitors are offering, your business is not likely to be successful. These are some things to consider when evaluating how well you can measure up against the competition. Once you have evaluated a need for your product or service and determined how yours will be different from your competitors’, you are ready to begin the next part of your plan – financing.

19	What is this article mostly about?		22	The word addressing is closest in meaning to
	A	Financing new businesses.		A	focusing on
	B	How to price products.		B	calling on
	C	The need for research.		C	giving up
	D	The best marketing strategies.		D	staying away from
20	What does the author say about risk?		23	The word demonstrate in line 7 is closest in meaning to
	A	We should try to reduce it.		A	felt
	B	We must avoid it.		B	created
	C	We can eliminate it with careful planning.		C	removed
	D	It is the key to success.		D	shown
21	According to the article, what can lead to the failure of a new business?
	A	Offering a cheaper product.
	B	Selling the exact same product as the competitors sell.
	C	Selling only to a niche in the market.
	D	Offering only services and not products.

ANSWER KEY